ONEOK, Inc. (NYSE:OKE) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 57.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,104 shares of the utilities provider's stock after selling 29,783 shares during the period. Sheets Smith Wealth Management's holdings in ONEOK were worth $2,014,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Atria Investments Inc increased its holdings in ONEOK by 76.9% in the 3rd quarter. Atria Investments Inc now owns 23,561 shares of the utilities provider's stock valued at $2,147,000 after buying an additional 10,240 shares during the period. Oxbow Advisors LLC increased its stake in ONEOK by 5.3% in the third quarter. Oxbow Advisors LLC now owns 12,485 shares of the utilities provider's stock valued at $1,138,000 after acquiring an additional 623 shares during the last quarter. Lindbrook Capital LLC raised its position in ONEOK by 44.0% during the third quarter. Lindbrook Capital LLC now owns 22,945 shares of the utilities provider's stock valued at $2,091,000 after purchasing an additional 7,015 shares in the last quarter. SpiderRock Advisors LLC increased its stake in shares of ONEOK by 1.8% in the 3rd quarter. SpiderRock Advisors LLC now owns 8,093 shares of the utilities provider's stock valued at $738,000 after purchasing an additional 147 shares during the last quarter. Finally, Equitable Trust Co. acquired a new position in shares of ONEOK during the 3rd quarter worth $458,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 2.9 %

NYSE:OKE traded up $3.02 during mid-day trading on Friday, reaching $107.16. The company's stock had a trading volume of 3,580,082 shares, compared to its average volume of 2,725,274. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $62.60 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 5.35 and a beta of 1.66. ONEOK, Inc. has a 1 year low of $63.77 and a 1 year high of $107.19. The stock has a fifty day moving average of $94.86 and a 200-day moving average of $86.67.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the firm earned $0.99 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.70%. ONEOK's payout ratio is currently 82.85%.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OKE shares. Truist Financial lifted their target price on ONEOK from $83.00 to $99.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They set a "buy" rating and a $105.00 price objective on the stock. Finally, Barclays lifted their price target on ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.92.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.